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November 14, 2012

ACE Aviation announces sale of Air Canada shares and warrants

ACE Aviation Holdings (ACE) has sold to Cormark Securities, as investment dealer, a total of 31m shares of Air Canada and 2.5m warrants to purchase Air Canada shares at exercise prices of $1.51 (1.25m warrants) and $1.44 (1.25m warrants), for total net proceeds to ACE of approximately $58m. As a result, ACE no longer holds any shares or warrants in the capital of Air Canada.